Conveyancing: Your ultimate guide to what
it is and why it's important

What is conveyancing?

In short, conveyancing is the legal process of transferring ownership of a property from one person to another. This process involves a series of legal and administrative tasks to ensure that the transaction is legitimate, binding, and that there won’t be any future disputes. It’s the ‘behind the scenes’ work that turns a handshake agreement into a legally recognised transfer of property ownership.

Here’s an overview of the stages involved in conveyancing:

Instruction:

• Choosing a conveyancer: The first step is selecting a conveyancer. Your estate agent might recommend a few options, but it’s good to do your own research as well.
  
  
• Initial engagement: When you’ve chosen a conveyancer, you’ll instruct them to act on your behalf. This involves signing a letter of engagement and providing initial details about the property transaction.
  
  

ID checks:

• Anti-money laundering compliance: Your conveyancer will perform identity checks to comply with anti-money laundering regulations. This usually means providing photo ID and proof of address.
  
  

Drafting contracts:

• Draft contract: The conveyancer will prepare a draft contract. This contract outlines the terms of the sale, including the property’s price, boundaries, and any fixtures and fittings included in the sale. It is then sent to the buyer’s conveyancer for review.
  
  
• Pre-contract enquiries: The buyer’s conveyancer will raise any initial questions or concerns about the draft contract or property details. These are known as pre-contract enquiries and need to be resolved before proceeding.
  
  

Property searches:

• Local authority searches: These searches check for any planning permissions, road schemes, or other developments that might affect the property.
  
  
• Environmental searches: These identify any environmental risks, such as flooding, land contamination, or subsidence issues.
  
  
• Water and drainage searches: These ensure the property is connected to the mains water supply and drainage system, and any related issues.
  
  
• Additional searches: Depending on the property, additional searches might be necessary, such as mining searches in former mining areas.
  
  

Contract agreement:

• Finalising details: When both parties are satisfied with the contract terms, the final contract is prepared. This includes resolving any outstanding pre-contract enquiries and ensuring all terms are agreed upon.
  
  
• Signing: Both the buyer and the seller sign their copies of the contract. This step confirms commitment to proceed with the transaction under the agreed terms.
  
  

Exchange of contracts:

• Legal binding: The signed contracts are exchanged between the buyer’s and seller’s conveyancers. At this point, the transaction becomes legally binding, and neither party can back out without facing penalties.
  
  

Final checks:

• Pre-completion searches: The buyer’s conveyancer conducts final checks, including a search to ensure the seller still holds the legal title and that there are no new issues affecting the property.
  
  
• Arrangements for transfer: Both conveyancers confirm that all arrangements for the transfer of funds and property are in place.
  
  

Transfer of funds:

• Balance payment: The buyer transfers the remaining balance of the purchase price to the seller’s conveyancer. This payment is made on the agreed completion date.
  
  
• Mortgage release: If the buyer has a mortgage, the mortgage lender transfers the funds directly to the seller’s conveyancer.
  
  

Stamp Duty:

• Stamp Duty payment: The buyer’s conveyancer pays the Stamp Duty Land Tax (SDLT) on behalf of the buyer. The amount depends on the property’s purchase price and is a legal requirement.
  
  
• SDLT return: The conveyancer also submits the SDLT return to HMRC within 30 days of completion.
  
  

Registering ownership:

• Land Registry: The buyer’s conveyancer registers the new ownership with the Land Registry. This involves updating the official records to reflect the change in ownership.
  
  
• Title deeds: The updated title deeds, showing the buyer as the new owner, are sent to the buyer. If the buyer has a mortgage, the lender will usually hold the deeds as security for the loan.

What’s the difference between a solicitor and a conveyancer? 

While solicitors and conveyancers can handle property transactions, there are differences between the two:

Solicitors:

• Broad legal expertise: Solicitors are fully qualified lawyers who can handle a wide range of legal issues, not just property transactions. They may offer additional legal services, such as family law, or wills and probate.
  
  
• Higher fees: Solicitors often charge higher fees than conveyancers due to their broader expertise and additional legal qualifications.
  
  
• Complex transactions: For complex property transactions or those involving significant legal issues, a solicitor’s extensive legal knowledge can be beneficial.
  
  

Conveyancers:

• Specialised in property law: Conveyancers specialise solely in property law and transactions, making them experts in this specific area.
  
  
• Cost-effective: They often offer more competitive fees than solicitors, making them a cost-effective option for straightforward property transactions.
  
  
• Regulated profession: Conveyancers are regulated by professional bodies such as the Council for Licensed Conveyancers (CLC), ensuring they operate to high standards.
  
  

How to speed-up the conveyancing process

Conveyancing can sometimes be a lengthy process, but there are several strategies you can use to help speed things up. From staying organised to using technology, here’s how to ensure your property transaction proceeds as quickly as possible.

Tips for a faster conveyancing process

1. Choose an experienced conveyancer:
   • Track record: Select a conveyancer with a proven track record of handling transactions efficiently. Experienced conveyancers are going to be better at fixing issues and keeping the process on track.
     
     
   • Recommendations: Ask for recommendations from friends, family, or your estate agent. Online reviews and testimonials can also provide insights.
     
     
2. Prepare your documents early:
   • Gather documentation: Collect all of the necessary documents as soon as possible. This includes ID, proof of address, property deeds, mortgage details, and any planning permissions or building regulation certificates.
     
     
   • Complete forms promptly: Fill in and return any forms your conveyancer requires without delay. Promptly providing information helps avoid unnecessary delays.
     
     
3. Instruct your conveyancer early:
   • Start early: Instruct your conveyancer as soon as you decide to buy or sell a property. Early instruction allows them to start the legal process immediately, including conducting initial searches and preparing draft contracts.
     
     
   • Pre-contract checks: Ask your conveyancer to conduct pre-contract checks early. Identifying and resolving issues before the formal contract stage can save time later.
     
     
4. Stay organised:
   • Track progress: Keep a record of all communications and documents. Use a list to track the progress of each stage in the conveyancing process.
     
     
   • Set reminders: Set reminders on your phone for key dates and follow up with your conveyancer to ensure everything is on track.
     
     
5. Communicate effectively:
   • Clear communication: Maintain clear and open communication with your conveyancer and estate agent. Respond promptly to queries and requests for information.
     
     
   • Regular updates: Ask for regular updates from your conveyancer on the progress of your transaction. Being proactive can help identify and address potential issues early.
     
     
6. Consider digital conveyancing:
   • Online portals: Many conveyancers offer online portals where you can track the progress of your transaction, upload documents, and communicate securely. This can speed-up the process and make it more transparent.
     
     
   • Electronic signatures: Use electronic signatures for documents where possible. This can significantly speed-up the process compared to waiting for physical documents to be signed and then returned.
     
     
7. Avoid unnecessary delays:
   • Prompt payments: Ensure you have funds readily available for any required payments, such as search fees or deposits. Delayed payments can put the brakes on the process.
     
     
   • Be ready for completion: Plan ahead for the completion date. Make arrangements for moving out, and notifying service providers well in advance.
     
     
8. Minimise chain-related delays:
   • Chains: A chain-free transaction or a shorter chain reduces the risk of delays caused by issues elsewhere in the chain.
     
     
   • Stay informed: If you are part of a chain, try to stay informed about the progress of other transactions in the chain. Regular communication can help address issues nice and promptly.

Conclusion

Conveyancing might sound complex, but understanding the process and knowing what to expect can make it much more manageable.

Whether you’re buying or selling a property, having a knowledgeable conveyancer by your side can make all the difference. By following the advice and insights in this guide, you’ll be well-prepared to navigate the conveyancing process with confidence.

Remember, every property transaction is unique, so keep communication open with your conveyancer and don’t be afraid to ask questions. Because with the right preparation and support, you’ll be well on your way to a successful property transaction.

Thank you for joining me on this whistle-stop tour through conveyancing. I hope this guide has been informative and helpful for you.

Just before I go, I’ll say ‘good luck’ with your property transaction and leave you with some FAQs and a ‘further reading’ section. 

FAQs about conveyancing

When you’re going through the conveyancing process, it’s normal to have lots of questions. To help you better understand and feel more confident, here are answers to some of the most frequently asked questions about conveyancing…

1. What exactly is conveyancing?

   Conveyancing is the legal process of transferring ownership of a property from one person to another. It involves several steps, including conducting searches, drafting and reviewing contracts, handling funds, and registering the new ownership with the Land Registry.
   
   

2. Why do I need a conveyancer?

   A conveyancer ensures that the property transaction is legal and binding. They handle all the legal paperwork, conduct necessary searches, manage the transfer of funds, and address any issues that arise during the process. Their expertise helps prevent legal complications and ensures a smooth transaction.
   
   

3. How long does the conveyancing process take?

   The conveyancing process typically takes between eight to 12 weeks, but it can vary depending on the complexity of the transaction, the efficiency of the conveyancer, and any issues that arise. Factors such as being part of a property chain can also affect the timeline.
   
   

4. What searches are conducted during conveyancing?

   Common searches include:

   • Local authority searches: Checks for planning permissions, road schemes, and other local issues.
   • Environmental searches: To identify risks such as flooding or contamination.
   • Water and drainage searches: Ensures proper connection to mains water and drainage.
   • Additional searches: Depending on the property's location, additional searches like mining searches might be necessary.
     
     
5. Can I do my own conveyancing?

   While it is possible to do your own conveyancing, it’s generally not recommended unless you have legal expertise and experience in property transactions. Mistakes can be costly and lead to legal complications. Most people prefer to use a professional conveyancer for peace of mind and efficiency.
   
   

6. What should I look for in a good conveyancer?

   When choosing a conveyancer, consider:

   • Experience and reputation: Look for someone with a good track record and positive reviews.
   • Qualifications: Ensure they are registered with a professional body, such as the Council for Licensed Conveyancers.
   • Communication: Choose a conveyancer who is responsive and communicates clearly.
   • Fees: Compare quotes and check for any hidden costs.
     
     
7. Do I need a conveyancer for a cash purchase?

   While you might manage without a conveyancer for a cash purchase, it is still advisable to use one. They conduct essential searches, ensure all the legal requirements are met, and handle the transfer of ownership, reducing the risk of future disputes.
   
   

8. What is the difference between a solicitor and a conveyancer?

   A solicitor is a fully qualified lawyer who can handle a wide range of legal issues, including conveyancing. Meanwhile, a conveyancer specialises solely in property law and transactions. Conveyancers often charge lower fees than solicitors, making them a cost-effective option for straightforward transactions.

Further reading

For those looking to dig deeper into the world of conveyancing and property transactions, there are loads of resources that provide valuable information and tools. Below is a list of useful UK websites that can help you better understand conveyancing, stay updated on property market trends, and find professional help.

These websites are packed with great information and tools to help you stay informed and make informed decisions about your property transactions. So, whether you’re a first-time buyer, a seasoned property investor, or you’re selling a property, these websites will give you the info you need.